Let All Seasons Real Estate, Inc assist you in buying your home in Covina
For many people, buying a home is a stressful event. But with a bit of planning ahead of time, it's not very difficult.
I like to supply buyers with a road map of the whole deal so they'll know exactly what to expect.
Below are my nine steps to buying a home.
If you have questions regarding this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to purchase
There are plenty of things you'll want to consider before beginning your home search.
You'll want to assemble an index of must-have features, get an idea of what school districts and neighborhoods you want to live in, and begin planning around your budget.
Ensuring your mortgage payment is less than or close to 30 percent of your monthly income is a good rule of thumb to go by.
Step 2 – Talk to a real estate agent in Covina
This is where All Seasons Real Estate, Inc comes in.
I'd like to book a time to get together with you and speak with you regarding your real estate needs and get an idea of your upcoming plans.
We'll talk about the mortgage and housing industries, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Covina area.
I can also assist you in getting started on your loan.
There are some very good mortgage professionals in Covina, and I partner with a lot of them, so you'll be in great hands.
They'll help you figure out which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a house
Following our initial meeting, I'll start finding houses on the market that are a good fit for you.
I'll preview most of the homes and eliminate the duds, and then we'll schedule appointments to tour the houses whenever it's convenient for you.
When we tour the homes, I'll identify positive features, as well as negative ones. I'll also ask you about things you like and don't like.
It's pretty common for buyers to update their must-have list as we tour homes and some items become far more substantial than others.
If that's the case, I'll look through the listings once again and narrow it down to the home you've been dreaming about.
Step 4 – Get a grasp of the market
My understanding of the Covina market is a fundamental aspect in your home search. I'm acquainted with all the neighborhoods and schools, and I can alert you to what areas are "hot" and call for immediate action and some that are "cold" and allow for cautiousness.
As we view homes, I'll be sure to tell you if the list price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be mindful and be sure to ask plenty of questions. Every real estate agent in Covina will claim to understand the housing market.
If it appears they don't know everything, contact me at (626) 339-0697 or e-mail me at , and I'll be happy to answer your questions. My understanding of the market will keep you a step ahead through the entire deal.
Step 5 – Find the house you've been looking for
We'll find your dream house in Covina, and when we do, I'll thoroughly create your real estate purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies, such as obtaining financing, finishing the inspection, and a clear title.
When presenting your offer, you'll need to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property, and it's typically applied to the closing costs. If the seller accepts your offer, we should close on the home about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the initial offer, and it's really common to receive a counter offer. Don't let this discourage you. We'll discuss whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the deal depends on market circumstances.
We'll also work within your financing budget. And when it's all said and done, we'll put together a contract that's best for you.
Step 7 – Secure a loan
After we sign the final deal, you'll begin working with your mortgage lender to close the loan.
It shouldn't take very long at all if you're already pre-approved, but you need to stay in close contact with your lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of receiving your application.
The estimate depends on the loan amount. RESPA requirements order that it has to contain all closing costs and be within a tight range of accuracy, and I'll study the estimate and let you know if everything looks good.
Then it's time to close on your house. This will most often happen at a title company or escrow office and should be a smooth and comfortable occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, be sure to contact me at (626) 339-0697 or e-mail me at .